There was a sharp drop in XRP price right after the news that the US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple. While it has been stated that the SEC has been working very actively and has taken some crypto money formations on its radar recently, XRP investors have sold their crypto money with the expectation of a “big collapse”.
It was noted that XRP, which reached the level of $ 0.65 in 5 days and then moved into a downward trend, declined to $ 0.44. XRP, which has declined by 32 percent from the peak price in the last 5 days, caused a lot of damage to its investors.
Looking at the daily chart, it is seen that the most important support is the $ 0.44 levels. Especially after a fall below this level, the price can regress to 0.40 and 0.32, respectively. At this stage, investors with XRP may choose to stop at closings below $ 0.44.
When we take a closer look at the picture and examine the 4-hour chart, it is seen that $ 0.44 is a significant support. In this context, it may be a logical investment strategy for investors with XRP to stop below 0.44, for investors who do not have XRP to buy up to $ 0.40 and to stop if they fall below this level.